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Legal Protection
Liability and Immunity Arrangements of Central Banks and Financial Supervisors

by Ashraf Khan

Series:Working Paper No. 18/176
ISBN 9781484372272
Code: #WPIEA2018176

Publication year: 2018

Cdn: $27.00; US: $23.50
Paperback
Language: English
42 pages
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This paper argues that central bank legal protection contributes to safeguarding a central bank and its financial supervisor’s independence, especially for conducting monetary and financial stability policy. However, such legal protection also entails enhanced accountability. To this end, the paper provides a selected overview of legal protection for central banks and financial supervisors (if the supervisor is part of the central bank), focusing on liability, immunity, and indemnification arrangements, and based on the IMF’s Central Bank Legislation Database. The paper also uses data from the IMF’s Article IV and FSAP Database, and the IMF MCM’s Technical Assistance Database. It lists selected country cases for illustrative purposes. It introduces the concepts of “appropriate legal protection” and “function-specific legal protection” as topics for further research.
Legal Protection
Cdn: $27.00; US: $23.50
International Monetary Fund (IMF) BookID: 123298 Added: 2018.8.5